First Trust Technology AlphaDEX Fund (NYSEARCA:FXL – Get Free Report) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 22,224 shares, a growth of 185.8% from the September 30th total of 7,775 shares. Based on an average trading volume of 48,578 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the company’s stock are short sold.
Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Genesee Capital Advisors LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund during the 3rd quarter worth approximately $23,095,000. Nilsine Partners LLC increased its stake in First Trust Technology AlphaDEX Fund by 6,236.6% during the second quarter. Nilsine Partners LLC now owns 97,521 shares of the company’s stock valued at $21,184,000 after purchasing an additional 95,982 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of First Trust Technology AlphaDEX Fund by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 95,685 shares of the company’s stock valued at $20,785,000 after buying an additional 2,467 shares during the last quarter. NewEdge Advisors LLC boosted its stake in First Trust Technology AlphaDEX Fund by 236.7% during the second quarter. NewEdge Advisors LLC now owns 89,362 shares of the company’s stock valued at $19,411,000 after buying an additional 62,818 shares in the last quarter. Finally, RVW Wealth LLC grew its holdings in shares of First Trust Technology AlphaDEX Fund by 3.6% during the second quarter. RVW Wealth LLC now owns 63,865 shares of the company’s stock valued at $13,873,000 after buying an additional 2,234 shares in the last quarter.
First Trust Technology AlphaDEX Fund Trading Down 3.4%
FXL traded down $7.55 on Friday, hitting $213.60. 24,015 shares of the company’s stock traded hands, compared to its average volume of 67,424. The company’s 50 day simple moving average is $218.98 and its 200-day simple moving average is $195.29. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 21.63 and a beta of 1.26. First Trust Technology AlphaDEX Fund has a one year low of $151.62 and a one year high of $231.93.
About First Trust Technology AlphaDEX Fund
First Trust Technology AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Technology Index (the Index). The Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. The AMEX constructs the Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets.
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